
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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I need help with C
A) $151200
B)50803.2

Transcribed Image Text:will pay off the balance in four equal pay-
ments plus the interest on the remaining loan.
a. What was the amount of the loan?
b. What was the amount of the first payment?
c. What was the amount of the final payment?

Transcribed Image Text:Mary Lou purchased a new combine that cost
$160,000. She traded her old combine and
received $8,800, which she used as a down
payment. She took out a loan for the remain-
der of the cost at 8.6 percent over 4 years. She
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